Sarah Lawrence College, which produces the radio drama anthology podcast “Serendipity,” on Friday hosted the inaugural Sarah Awards, billed as the first award ceremony for audio fiction.

The awards are the latest sign of a booming market that hardly existed five years ago, when there were too few fictional podcasts to warrant a meaty Top 10 list. But that was before the success of “Welcome to Night Vale” and the debut of “Serial,” the nonfiction show that raised podcasts to the level of popular culture.

Four awards, including one for best new artist, were presented at the awards ceremony, held at the Jerome L. Greene Space at WNYC and WQXR in Manhattan and hosted by Glynn Washington of “Snap Judgment.” Among the submissions were stories from established fictional podcasts like “The Truth.”

Ann Heppermann, a Sarah Lawrence faculty member who was a founder of the awards and “Serendipity,” said that the idea for the Sarahs goes back to 2012. Their debut happens to coincide with what she called “a thriving community of audio fiction.” Going forward, her hope is that the award prompts producers to “challenge themselves to make radio drama for the 21st century.”

Each winning story will be aired on a future episode of “Serendipity.” They are also available now on a SoundCloud playlist made for these awards. Have a listen below.

‘Almost Flamboyant,’ First Place

Lea Redfern, a producer for ABC RN in Sydney, Australia, collaborated with the writer Rijn Collins for a story set in Melbourne, where Ms. Collins lives. It begins with a young woman who makes an unlikely new friend: a stuffed flamingo. Speaking onstage, Ms. Redfern and Ms. Collins said that, despite their collaborative history, they had only met two hours before the Sarah Awards ceremony.

‘Can You Help Me Find My Mom?,’ Second Place

Jonathan Mitchell founded one of the pre-eminent fictional podcasts, “The Truth.” The show, like “Serendipity,” is an anthology of short radio dramas. This story follows a simple, yet horrifying, premise: A girl cannot find her mother. Diana McCorry wrote the story, which she said was inspired by her grandmother’s dementia — the disease that figures in the twist ending.

‘Our Time Is Up,’ Third Place

Erin Anderson, the author of “What Hadn’t Happened,” created this story about Jake and Helen McCleary, an elderly couple working to save their marriage. Their tale is told through audio clips from weekly therapy sessions. When accepting her award, Ms. Anderson said she assembled the story with oral histories from people who are now dead, one of whom was her grandfather.

‘Quadraturin,’ Best New Artist

This is the first work of audio fiction by Jon Earle, a producer and translator, who collaborated with Emma Wiseman, a stage performer based in Brooklyn. For their story, they explored the dream of many New Yorkers: A young woman uses a magical substance that can make her tiny apartment much larger. But, like many fantasies, there is a dark side. When things seem too good to be true, they usually are.